The purchasing manager was able to bring down the cost of direct materials by purchasing direct materials of a slightly lower grade quality than the company had used previously. The lower grade of direct materials, however, meant a higher defect rate on the assembly line and a higher waste of direct materials during production, which in turn lowered operating income. This situation would lead to a(n) ________.
A) favorable direct materials cost variance
B) unfavorable direct labor cost variance
C) favorable direct labor efficiency variance
D) favorable direct materials efficiency variance
A) favorable direct materials cost variance
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The individual is governed by his or her own chosen ethical principles in which of the following stages of moral development?
a. Obedience and punishment orientation b. Instrumental purpose and exchange c. Interpersonal accord, conformity, mutual expectations d. Universal ethical principles.
The bookkeeper of Fire Steel, Inc. recorded a $1,503 check as $15,030 in payment of the current month's rent. Which of the following journal entries is needed to adjust for this error in the books of the company?
A) Cash 13,527 Sales Revenue 13,527 B) Rent Expense 15,030 Cash 15,030 C) Cash 13,527 Rent Expense 13,527 D) Booking Error 1,503 Cash 1,503
________ involves the planning, direction, and control of personal selling activities, including recruitment, selection, training, motivation, compensation, and evaluation of members of the sales force.
A. Integrated marketing communications management B. Sales administration C. Human resource management D. Marketing management E. Sales management
Which one of the following statements is an example of how to improve perceptual acuity?
A. A CEO meets with other CEOs of non-competing companies to examine the world from multiple perspectives and then shares the results with his own management team. B. A CEO meets with the company management team regularly to analyze current world events and their potential impact on the company. C. Outsiders are brought in to the board meeting to critique the company strategy, which considers the new information in its potential revamping of the strategy. D. A CEO meets with direct competitors to analyze current industry trends. The CEOs share their conclusions with their respective companies.